Naomi Feldspar
Partner | Chicago | Restructuring
Profile
Naomi Feldspar is a partner in the Chicago office of Corvane Ryle LLP and a member of the firm's Restructuring Practice. She advises borrowers, sponsors, creditors and distressed investors on out-of-court restructurings, chapter 11 cases and liability management transactions.
Naomi's work is concentrated in consumer, retail and industrial businesses, where seasonal liquidity, lease portfolios and supply chain exposure shape every negotiation. She is known for steering parties toward consensual outcomes while preparing the court-supervised alternative in parallel.
She works closely with Marcus Delacroix-Hale and the firm's banking and private credit lawyers, and regularly speaks to boards on how to act when a company approaches the zone of insolvency.
Naomi's work falls within the firm's Restructuring Practice and is particularly relevant to clients in Financial Institutions, Retail & Consumer Products and Energy & Infrastructure. Naomi is based in the firm's Chicago office.
Experience
Naomi's representative matters include the following, many of which are confidential and described in general terms.
- Advised Oriole Pharmacy Group, a regional pharmacy chain, on an out-of-court restructuring of its secured term debt and the renegotiation of its store lease portfolio.
- Represented an ad hoc group of first-lien lenders in the negotiation of a liability management transaction involving a drop-down of intellectual property assets.
- Advised Halvern Retail Group on contingency planning and liquidity management during a period of tariff-driven margin pressure.
- Represented the debtor, a Midwest industrial manufacturer, in a prepackaged chapter 11 case confirmed in under 60 days.
- Advised Tidewater Logistics on the restructuring of its equipment financing facilities following a customer concentration event.
- Represented a credit fund as lead lender in a debtor-in-possession financing for a specialty apparel retailer.
- Advised Larkspur Apparel on the negotiation of covenant relief and an amend-and-extend of its asset-based revolving facility.
- Represented an unsecured creditors' committee in the chapter 11 case of a regional restaurant group.
- Advised Castellan Hotels on a consensual restructuring of mezzanine debt secured by a portfolio of leased properties.
- Represented a distressed investor in the purchase of a consumer brand through a section 363 sale process.
- Advised the board of a privately held food distributor on its fiduciary duties and strategic alternatives while approaching insolvency.
- Counseled a private credit lender on enforcement strategy and the negotiation of a forbearance agreement with a middle-market borrower.
Insights
Naomi's recent insights include the following.
- Private Credit Moves Into Consumer and Retail Lending, with Benedikt Sauerland.
- Liability Management Transactions: Lender Protections in 2026 Documents, with Marcus Delacroix-Hale.
Qualifications
Bar admissions
- State Bar of Illinois
- State Bar of New York
- US District Court for the Northern District of Illinois
- US Bankruptcy Court for the Northern District of Illinois
Education
- JD, University of Chicago Law School
- BA, Economics, Northwestern University